Our Daily Saab: Chapter 11 In The UK. Swedish Unions Going For The Kill

Saab’s supposed saviors in China have not sent any money (not that this is surprising). Saab’s other savior Vladimir Antonov is out on bail, had to surrender his passport and report with the coppers in West London three times a week. Which adds new revs on Saab swirling down the drain.

Saab reports that it’s UK unit Saab Great Britain Ltd (Saab GB) “filed for administration with the High Court in London today.” Administration is the UK version of bankruptcy. The court appoints an administrator, which takes n the management powers of the directors.

Saab says the Chinese are to blame:

“Swan received a conditional funding commitment from Youngman for the payment of the wages of the employees of Saab Automobile and for the continuation of the activities of Saab GB. Saab Automobile and Saab GB have not yet received this funding.”

Meanwhile in Trollhättan, salaries have not been paid. The unions are preparing the required demand notice, and if that triggers no money, the unions will file for bankruptcy. Just Auto says:

“Saab unions, suppliers and Swedish tax representatives are to meet the automaker at 17:00 today [Sweden, 29 November) in the manufacturer’s home city of Trollhattan as crisis talks to rescue the company appear on a knife edge.”

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  • Dave M. Dave M. on Nov 29, 2011
    TTAC is painful to read by anyone who has skin in the Saab game because of their “let’s have fun at the expense of Saab’s trouble” attitude. As a resident Saabista, I feel the pain....but I can't agree TTAC is reaping joy out of the reporting. Bertel is providing a relatively even blow-by-blow on the soap opera called Saab. It's sad, it's tragic, the value of my car has bottomed, worse yet thousands of folks have lost their livlihood....but it is what it is. Take a step back - Mueller or any other snake oil salesman succeeding was a Hail Mary to begin with.

  • Jeff_vader Jeff_vader on Nov 29, 2011

    A couple of quick question for you Mr Schmitt, "Jeff" over at The Church Of The One True Saab is spouting off tonight that 'the deal' is yet again just over the horizon. Have you heard anything that in any shape or form would substance to this rumour? It all seems to be hanging on reports of a rumoured third Chinese or American party who would come in on the PangDa/Youngman deal, has this any basis in truth at all or is it just another piece of black propaganda put out to try and deal the unions again? Secondly, do you know when the Re-Organisation agreement comes to an end? I thought it was the 21st of December but di.se seem to be reporting that it will be much sooner? Hopefully it will be this week so this insane joke can finally reach its punchline.

    • Bertel Schmitt Bertel Schmitt on Nov 30, 2011

      I am in Tokyo at the motor show and away from my sources. I just received an email from China that says: "Chinese press says Saab deal DOA, Pangda was refused by GM, game over, lights out." I can't confirm this from here, so no report about it.

  • Spyked Spyked on Nov 29, 2011

    I am a SAAB fan. And what Bertel usually posts about SAAB is true. As in, factual. I do think some SAAB fans think TTAC ends up coming across as mean-spirited and biased not because TTAC posts about SAAB's troubles, but because the comments are filled with name-calling and hateful remarks about people that drive SAABs and like SAAB the company. Yet never bother to mention the superior vehicles they drive. Same story on every car website though. This is called The TRUTH About Cars, yet so many of the comments are nonsense. Victor Muller a con-man. Sure. Vladimir Antonov robbing his own banks. Sure. As if the governments of at least four countries and three large corporations didn't have one smart person between them to figure out the super-sleuth team of Muller/Antonov. Fact is, VM tried to save the company. He is a car guy. As in, wants to see cars, specifically SAABs, do well. He didn't do a great job at it. It's that simple.

  • Charles T Charles T on Nov 30, 2011

    Just saw a breaking news headline: "Saab Surges on Optimism ".. Could it be? A new savior? ..."Switzerland Will Opt to Buy Gripen Jet" Oops, wrong Saab. Carry on then.